Decolonizing economics means questioning where its ideas came from — and imagining new ones

Mon, 24 Aug 2026 03:25:50 +1000

Andrew Pam <xanni [at] glasswings.com.au>

Andrew Pam
<https://theconversation.com/decolonizing-economics-means-questioning-where-its-ideas-came-from-and-imagining-new-ones-288591>

"Economics shapes many aspects of our daily lives, from the prices we pay to
the policies governments adopt. Yet many of the ideas taught as universal
principles of economics emerged from a narrow historical context and have
rarely been examined through a decolonial lens.

A recently published book, Decolonizing Economics, argues that economics is
long overdue for decolonization. Its authors contend that the discipline has
largely overlooked how colonialism, empire and unequal power shaped the
development of modern economies and the economic theories used to explain them.

Decolonizing economics means rethinking how we understand economic development
and inequality. Rather than explaining prosperity through technology, markets
and scientific progress, it examines how colonization, resource extraction and
exploited labour shaped today’s wealthy economies while contributing to
underdevelopment elsewhere.

At its core, it’s about shifting away from an economy that benefits the elite
to one that builds people’s capabilities.

As an economics professor, I’ve been restructuring my teaching based on my
scholarship on critical microeconomics, critical macroeconomics and alternative
ways to build the economy."

Cheers,
       *** Xanni ***
--
mailto:xanni@xanadu.net               Andrew Pam
http://xanadu.com.au/                 Chief Scientist, Xanadu
https://glasswings.com.au/            Partner, Glass Wings
https://sericyb.com.au/               Manager, Serious Cybernetics

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